When online shopping, many shoppers click to add an item to their shopping carts, but not long after, their interest goes cold and they fail to checkout and pay. This prevalent behavior is called shopping cart abandonment, and is estimated to amount to $4.6 trillion every year, revealing a large opportunity for retailers to promote conversion.
From your personal experience online shopping, you probably already understand the various reasons why you leave your items in the shopping cart unbought. Some websites have complicated checkout processes, sometimes with frustrating mandatory account creations. Other reasons include lost interest after long deliberation times, or slow websites.
How can we reduce this lost revenue? Retailers have used various strategies, such as through emails that remind the shopper of the specific items that are still in their cart. Such targeted and personalized engagements have proved to be beneficial. Seventy-eight percent of marketers surveyed for the Salesforce 2014 State of Marketing report said they experienced good to excellent success with cart abandonment emails.
This infographic blow, from Fullestop, ‘Shopping Cart Abandonment – The heartbreaking reality of today’s e-commerce industry,’ delves into trends of shopping cart abandonment in different industries, the reasons for such behavior, and potential solutions.
Read on to learn how to better understand what drives shopping cart abandonment and how to boost the conversion of your shoppers’ carts.
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